Tata Air India: Tata Sons has bought Air India. Tata Sons has made a bid of Rs 18,000 crore to buy Air India.
New Delhi: Tata Sons has bought Air India. Tata Sons has made a bid of Rs 18,000 crore to buy Air India. DIPAM secretary Tuhin Kant Pandey made this announcement on Friday.
Ratan Tata, former chairman of Tata Group, tweeted on winning Air India's bid and said, 'Welcome back Air India.'
Two companies had bid
The Secretary of the Department of Investment and Public Asset Management (DIPAM) said that two companies had bid in the Air India auction. In this, the highest bid of Tata Sons was Rs 18,000 crore. The panel of ministers cleared this bid and thus Air India has now become a part of Tata Sons.
The decision was taken by the panel of ministers
He said that a special panel had gone to consider the big economic decision of the country. The Home Minister, Finance Minister, Commerce Minister and Civil Aviation Minister were included in this panel. The panel deliberated on all aspects. After this, Tata Sons was declared the winner on the highest bidder in the bid.
Air India was burdened by heavy debt
DIPAM secretary Tuhin Kant Pandey said that Air India has a debt of Rs 15 thousand 300 crore. Tata Sons will pay this loan first out of 18 thousand crores. After that, the remaining amount will be deposited with the government.
Jamshedji Tata started the airline
Let us inform you that Jamsetji Tata, the founder of the Tata Group, started Air India in the year 1932 with an investment of Rs 2 lakh. At that time the name of the company was Tata Airlines. This airline made its first flight in 1932 between Karachi and Mumbai. The company made its mascot Maharaja and started international operations in the year 1946. Soon this airline became one of the best airlines in the world.
Nehru government had done nationalization
In 1953, the then government of Jawaharlal Nehru nationalized Air India. JRD Tata fought a vigorous legal battle against this but he could not win the case. Since this airline became part of the government, its name was changed to Air India.
Despite the company becoming a part of the government, the Tata family's attachment to it continued. Now Air India has returned home. In such a situation, it will be interesting to see whether this company will be able to wave its flag again in the world under the leadership of Tata.